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Retailers prepare for Cyber Monday

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CNY/NNY/S. Tier: Retailers prepare for Cyber Monday
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Many people shopped for deals at stores this long holiday weekend, and retailers hope the spending streak continues on what's known as "Cyber Monday." YNN's Katie Cummings spoke with a financial expert about the emerging trend in online shopping.

BUFFALO, N.Y. - Despite retailers' initial concerns, the four-day holiday weekend turned out to be good for business.

247 million people visited stores and websites during that timeframe. That's up from 226 million a year ago, according to the National Retail Federation.

Retailers' next benchmark is Cyber Monday sales. One financial expert says many already have deals in place.

"A lot of the other stores are doing what they can to compete with Amazon and that’s why you are seeing you know Target, Wal-Mart some of the others, Best Buy really get a early jumpstart on Monday, Tuesday, even Thanksgiving Day in trying to lure some of that internet business," said Glenn Wiggle of the Financial Guys.

Some shoppers says they’ve already noticed deep discounts while surfing the web on their hand-held devices. That's another consumer trend that will likely continue. The National Retail Federation claims the number of people using their mobile device to shop has leaped from three to fifteen percent in the past three years.

"I was looking up to see where I could buy Emu boots and I pulled up the Macy's site and it said buy one get one free Monday and I was like, 'oh maybe I should get them on Monday then and get two,'" said shopper Cori Raybon.

"My mom was while we were picking out my dress and she saw that online it was actually 50 percent off but in the store it was 40," said shopper Kennedy Smith.

If you plan to search the internet for deals, Wiggle recommends always using a reputable site

"I went and used a retailer that was the best deal out there. It was a no-name entity. Some website that was offering electronics at cheap prices, and I learned a valuable lesson. The tougher the economy is the more the criminals come out of the woodwork it seems, the more identity theft goes up, the more credit theft goes up," said Wiggle.

A survey by the National Retail Federation says the average shopper spent $172.42 online over the weekend, about forty percent of his or her weekend spending, up from 37 percent last year.

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